With both Sydney and Melbourne still in hard lockdown, the nation’s auction market continues to hold up well.
CoreLogic record a preliminary national clearance rate of 74.8%, down only slightly from the prior weekend’s 76.3%.
Sydney’s preliminary clearance rate softened to 74.8% from the prior weekend’s 77.1, whereas Melbourne’s also softened to 71.9% from 76.1%. However, auction volumes were lower – 1,849 versus 2,169 the prior weekend.
Across the smaller capitals, where auctions are far less common, auction clearances were solid.
The nation’s clearance rate remains at historically high levels; albeit down significantly from March’s peak:
Domain’s auction results were softer; albeit off a smaller sample size:
Other things equal, the auction market is pointing to slower dwelling price growth over the second half.